EA make a bid to buy Take-Two

bingham67

bingham67

bingham67

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Electronic Arts today announced that it has proposed to acquire Take-Two in an all-cash deal valued at approximately $2.0 billion.

The news follows weeks of rumors that Take-Two would be the subject of an acquisition bid, with Viacom touted as a possible suitor at $1.5 billion. EA has, it turns out, attempted to buy Take-Two for $25 a share, and, after being rebuffed, has upped the ante by a buck. But the firm has warned shareholders that they won't get a better price.

EA's proposal of $26 per share in cash represents a premium of 64 percent over Take-Two's closing stock price prior to the company's bid.

EA Chief Executive Officer John Riccitiello said "Our all-cash proposal is a unique opportunity for Take-Two shareholders to realize immediate value at a substantial premium, while creating long-term value for EA shareholders. Take-Two's game designers would also benefit from EA's financial resources, stable, game-focused management team, and strong global publishing capabilities."

He urged Take-Two shareholders to accept the bid, "There can be no certainty that in the future EA or any other buyer would pay the same high premium we are offering today."

EA had warned Take-Two's bosses that if they refused to engage in negotiations, the company would go public with its bid. Today, EA made good on that threat.

Take-Two's assets include Grand Theft Auto 4, which ought to be the biggest game of 2008. EA says it wants to get the deal done before the game's release in order to avoid disruption.
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http://www.next-gen.biz/index.php?option=com_content&task=view&id=9285&Itemid=2

Interesting indeed :)
 
noooo.jpg
 
Penny-Arcade said:
I'm going to walk into an Electronic Arts retail location here in a couple years and purchase a white box with the word "Game" on it, and that's going to be the industry.
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What the **** is wrong with EA? Why are they trying to cannibalize the industry?

Take-Two's assets include Grand Theft Auto 4, which ought to be the biggest game of 2008. EA says it wants to get the deal done before the game's release in order to avoid disruption.
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EA actually means 'we want control over GTA4 so hand it over'.
 
EA still get slated for past form. I like EA games as it stands now and think they are under rated. They dont churn out anymore rubbish than anyone else.
 
I thought Rockstar were soon to be leaving T2 anyway? EA would only get the benefit of the GTA franchise for a short while is they were succesfull.

ea_takeover.jpg

LOL, I love this pic :D
 
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sc(+)pe said:
Wasn't there some rumor a littlw while back of EA buying the xbox franchise from MS?
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You think EA could afford it? :confused:

Don't do it Take-Two... just don't. If you do... I will find where you live and put my poo through your post box. Yeah that's right. I would be that angry.
 
Oh ****.
They better don't touch take 2, GTA IV is supposed to be a rockstar game & rockstar north game, I'd become mad if I heard ''EA games, challenge everything'' while fireing up GTA. Also the Civilization series:(.

Seriously, if EA kills the Civiliaztion series and the GTA series I'd be ****** beyond recognition.
 
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